Moody’s
The bond is the world’s first SLLB issued under the new ICMA/LMA framework
The A1 rating is the fifth-highest on Moody’s scale, indicating upper-medium investment grade and low credit risk
Fitch has assigned Salik an investment grade A- issuer default credit rating with a stable outlook
The report noted that investment has risen since the Paris Agreement, but reaching net zero by 2050 needs much more effort
The agency forecasts government spending will remain high at 30 to 32 percent of GDP over the next three years
Non-oil economic growth in GCC countries to remain strong in 2025 due to ambitious government economic diversification plans
The net proceeds from this issuance will be utilized by ADNOC Group for general corporate purposes.
The agency also retained its (P)Ba1 rating for the Government of Oman’s senior unsecured medium-term note program
Since its inception, PIF has achieved an average total shareholder return of 8.7 percent per year
The growth in earnings is driven by 11 percent lending growth and a rising interest rate environment
The rating reflects the government's significant progress in implementing a broad-based reform agenda since 2016
Solid budget and financial buffers, but reforms needed to reduce oil dependence
Non-oil economic growth in Bahrain is projected to remain stable at 3.2 percent
The agency also affirmed Egypt's foreign-currency senior unsecured ratings at Caa1
Ratings reaffirm financial resilience and strategic importance within national economy
First upgrade since 2007
Egypt's overall classification was affirmed at Caa1 in October 2023
OPEC maintains 2.25 mn bpd demand growth forecast
Difficulties securing affordable financing currently, given the country’s strict monetary policy and credit rating
IMF warned of "fiscal and external sustainability risks" from "large" budget law expansion
Rating highlights a negative real GDP growth of 2.6 percent in 2022
Gold prices increased 0.42 percent during Sunday's Asian trading session
